Village Farms Reports Q4 Sales Up 9% and 384% Export Surge Drives Record 2025 Profit
Village Farms reported Q4 net sales of $49.6M, up 9%, with Canadian sales rising 10% and exports jumping 384%, driving record 2025 net income of $21.0M. The company ended 2025 with $86M cash, has begun its Delta 2 expansion and expects its Netherlands facility operational by Q2.
1. Record 2025 Financial Performance
Village Farms achieved consolidated net income from continuing operations of $21.0 million in 2025, reversing a prior-year loss, and delivered adjusted EBITDA of $49.9 million alongside operating cash flow of $58.1 million.
2. Q4 Sales Growth and Margins
In Q4, net sales rose 9% to $49.6 million, driven by a 10% increase in Canadian sales to $37.8 million and a 384% surge in international exports; Canadian gross margin improved to 43%, yielding adjusted EBITDA of $9.8 million or 25.8% of sales.
3. Expansion Projects Progress
The Delta 2 expansion in Canada commenced cultivation on March 2 and is on track to add 15 tonnes of capacity in 2026, while the Netherlands facility will plant first grow rooms in March with full operational status by Q2, targeting annual capacity near 10 tonnes.
4. Cash Position and Capital Allocation
The company ended 2025 with $86 million in cash on the balance sheet and has repurchased $6.7 million of shares since Q3, balancing accretive organic investments, potential acquisitions and ongoing share buybacks.